Tidal Investments LLC Has $4.52 Million Stock Holdings in M&T Bank Co. (NYSE:MTB)

Tidal Investments LLC reduced its stake in shares of M&T Bank Co. (NYSE:MTB) by 1.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,393 shares of the financial services provider’s stock after selling 410 shares during the quarter. Tidal Investments LLC’s holdings in M&T Bank were worth $4,523,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MTB. Assenagon Asset Management S.A. lifted its holdings in shares of M&T Bank by 241.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 32,813 shares of the financial services provider’s stock worth $4,967,000 after acquiring an additional 23,201 shares during the period. Blue Trust Inc. lifted its stake in M&T Bank by 30.1% during the second quarter. Blue Trust Inc. now owns 1,391 shares of the financial services provider’s stock worth $202,000 after purchasing an additional 322 shares during the last quarter. Oakworth Capital Inc. bought a new position in shares of M&T Bank in the 2nd quarter valued at $35,000. Hedeker Wealth LLC acquired a new position in shares of M&T Bank during the 2nd quarter worth $524,000. Finally, Hennion & Walsh Asset Management Inc. lifted its position in shares of M&T Bank by 127.9% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 3,648 shares of the financial services provider’s stock worth $552,000 after buying an additional 2,047 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Performance

NYSE:MTB opened at $199.29 on Friday. The company has a market capitalization of $33.07 billion, a PE ratio of 14.75, a P/E/G ratio of 2.83 and a beta of 0.76. M&T Bank Co. has a fifty-two week low of $128.31 and a fifty-two week high of $225.70. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 0.99. The company has a 50 day simple moving average of $203.04 and a two-hundred day simple moving average of $175.70.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.60 by $0.48. The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.30 billion. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. Research analysts anticipate that M&T Bank Co. will post 14.63 earnings per share for the current year.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.71%. M&T Bank’s payout ratio is 39.97%.

Wall Street Analyst Weigh In

MTB has been the subject of several research analyst reports. Compass Point boosted their target price on M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday. Barclays increased their price objective on shares of M&T Bank from $170.00 to $228.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Evercore ISI boosted their target price on shares of M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Wolfe Research upgraded shares of M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price target for the company in a report on Friday, October 4th. Finally, Citigroup downgraded M&T Bank from a “buy” rating to a “neutral” rating and raised their price objective for the company from $220.00 to $230.00 in a report on Monday, November 25th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, M&T Bank currently has an average rating of “Hold” and a consensus price target of $211.58.

Insider Buying and Selling

In other news, Vice Chairman Gary N. Geisel sold 2,490 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total transaction of $537,566.10. Following the completion of the sale, the insider now owns 16,429 shares of the company’s stock, valued at $3,546,856.81. This trade represents a 13.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Rene F. Jones sold 23,071 shares of M&T Bank stock in a transaction on Monday, October 28th. The shares were sold at an average price of $193.88, for a total transaction of $4,473,005.48. Following the completion of the sale, the chief executive officer now owns 77,226 shares of the company’s stock, valued at $14,972,576.88. This represents a 23.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 84,994 shares of company stock valued at $17,211,278 over the last 90 days. Company insiders own 0.82% of the company’s stock.

M&T Bank Company Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.